FRONTIER SER (00500) issues profit warning. It is expected that the potential net loss for the year 2025 will increase by no less than HK$190 million compared to the previous year.
Sanfeng Service Group (00500) announced that the Group expects a potential net loss of at least 190 million Hong Kong dollars for the fiscal year ending on December 31, 2025, compared to a net loss of 100 million Hong Kong dollars for the fiscal year ending on December 31, 2024. The increase in net loss for the year is mainly due to factors such as a decrease in revenue by approximately 12%; a provision for impairment of purchased goodwill and other intangible assets related to the cash generating units of the Group's existing business segments of approximately 81 million Hong Kong dollars; a provision for irrecoverable receivables and other assets of approximately 50 million Hong Kong dollars; and a provision for compensation for litigation claims of approximately 15 million Hong Kong dollars.
FRONTIER SER (00500) announces that the group is expected to incur a potential net loss of no less than HK$190 million for the year ending December 31, 2025, compared to a net loss of HK$100 million for the year ending December 31, 2024. The increase in net losses for the year is mainly due to the following factors: a decrease in revenue of approximately 12%; provision for impairment of goodwill and other intangible assets related to the cash-generating units of the group's existing business segments of approximately HK$81 million; provision for doubtful receivables and other assets of approximately HK$50 million; and provision for compensation related to litigation claims of approximately HK$15 million.
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